(Answered) Question - grays employer is now offering group-term life

Accounting

Question - Gray's employer is now offering group-term life insurance. The company will provide each employee with $100,000 of group-term life insurance. It costs Gray's employer $300 to provide this amount of insurance to Gray each year. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Required: Assuming that Gray is 52 years old, determine the monthly premium that Gray must include in income as a result of receiving the group-term life benefit?

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